Purchase & Selling Guide

Introduction

You need to be certified as a Real Estate Transaction Specialist in order to close a sales transaction in Japan, and all real estate agencies shall retain more than one certified Real Estate Transaction Specialist for every five employees.

In aiming to protect buyers, only certified Real Estate Transaction Specialists are allowed to execute both "Explanation of important matters"and "Sales Contract", and a certified Real Estate Transaction Specialist is required to conduct an "Explanation of important matters" for buyers "face-to-face" before they enter into the contract under Real Estate Business Law.

We will cordinate the best possible closing procedure for each buyer/seller as we comply with Japanese Real Estate Buisiness Law to protect our customers.

Purchase Guide

STEP01

Selecting a property

Please look through our listings on our web site to see what's available on the market.
Feel free to let us know your requirements or specific properties you are looking for.

STEP02

Site Visit

Please kindly bring along someone who comprehends Japanese when conducting a site visit so you can communicate with our local branch agent.

STEP03

Purchase Offer

If you intend to buy a property, you will submit a "Letter of Intent (LOI)" to the seller, which does not construe as a binding contract.
Once Buyer and Seller reach an agreement, you will proceed to the next sep to enter into the contract.

STEP04

The Contract

"Explanation of important matters" will be carried out by Certified Real Estate Transaction Specialist.
The sum of 10% of the sales price, which is regarded as a deposit, and other contract-related fees will be required at the execution of the contract.

STEP05

Handover

The rest of sales price plus other related fees will be due on or before the closing date.
Once all the Buyer's duties are executed, key and any documents required for the public registration will be delivered to the Buyer.
A judicial scrivener will then apply for public register to transfer the freehold.

1 Explanation of important matters
Explanatin of important matters is a disclosure statement on property descriptions, right and obligation, maintenance fees, restrictions and etc that shall be delivered and explained to the buyer "face-to-face" prior to the closing.
After our certified Real Estate Transaction Specialist explain this disclosure statement, you will write your signature on Explanation of important matters.
2 Contract-related fees
Contract-related fees include the followings:
・Contract stamp fee
・Please note that we will charge no brokerage fee at the time of executing the contract.
3 Money Transfer
Generally speaking, escrow is rarely seen in real estate transactions in Japan. To avoid having Buyer directly make a deposit into Seller's account, we propose that you employ either our bank account (as Buyer's broker) or a bank accout of a judicial scrivener (or lawyer) depending on your preferences.
4 Required documents for public registration
In general, the judicial scrivener will prepare all the documents for you in terms of public registration.
However, please be informed that you need to obtain an "affidavit" to verify your home address in your country.
5 Fees related to the handover (including brokerage fee)
Fees related to the handover include the followings:
・Brokerage fee; 3% of sales price (plus consumption tax) will be charged as Buyer's brokerage fee.
・Registration tax
・Fee for judicial scrivener
・Pro rata share of Property tax, which shoule be allocated to Buyer.
6 Public registration
After public registration procedure is completed, we will mail you the public registration record which proves you are the legitimate property owner.
7 Tax Agent
If you are non-resident of Japan who purchases properties in Japan, we suggest that you employ your own tax agent in Japan so that you can have him/her to handle all the payments such as real estate tax, real estate acuisition tax, management fees and so on. Your tax agent also prepare a tax return on behalf of you if necessary.

Please feel free to contact us.

We also have unlisted resort hotels for sale.

© 1998 Tokyu Resort Corporation.